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Is lump-sum spousal support a good idea?

Even though divorce can take a toll on anyone’s financial well-being, it tends to be harder on divorced women than men. Indeed, according to reporting from Business Insider, approximately two out of every three divorced women say they struggle financially in the first few years after the end of their marriages.

Pursuing spousal support can be extremely beneficial. While qualifying spouses routinely ask for monthly support, it may be possible to negotiate lump-sum spousal support. If you go this route, you get all your alimony in a single payment soon after your divorce becomes final.

Removing some doubt

As you know, individuals lose their jobs all the time. Others make bad financial investments or otherwise become incapable of making ongoing spousal support payments. If you go after lump-sum alimony, you remove some doubt. That is, you do not have to worry about your soon-to-be ex-spouse not making all the payments you should receive.

Paying for high-ticket items

It is not uncommon for divorcing individuals to want to move to a new home, purchase a better vehicle or even pursue higher education. If you want to pay for an expensive or high-ticket item, getting your spousal support upfront may make a great deal of sense.

If your marriage and divorce are times in your life you want to forget, you might not want to receive monthly reminders of your previous life in the form of regular support checks. Ultimately, with lump-sump alimony, you can choose to have less contact with your current husband or wife.